Business
Publication of Circular and Notice of EGM
Publication of Circular and Notice of EGM.
About this update from Fenikso Ltd
[{"type":"text","content":"\n \n \n 9 December 2022\n \n \n \n Lekoil Limited\n \n \n \n (\"\n LEKOIL\" or the \"Company\")\n \n \n \n Publication of Circular and Notice of Extraordinary General Meeting\n \n \n \n LEKOIL (AQSE: LEK), the Cayman Islands litigation asset company with an investment in oil & gas assets in Nigeria, announces that, further to its announcement of 7 December 2022 regarding the proposed settlement of claims with\n Lekoil Nigeria Limited and Olalekan Akinyanmi, the former CEO of the Company (the \"Settlement Announcement\"), an Extraordinary General Meeting (\"EGM\") of the Company will be held on 29 December 2022 at 10.00 a.m. (Greenwich Mean Time) at the offices of White & Case LLP, 5 Old Broad Street, London EC2N 1DW, United Kingdom.\n \n \n Capitalised terms not defined in this announcement shall have the meaning given to them in the Settlement Announcement.\n \n \n As noted in Settlement Announcement, the LNL Arrangements and the Change of Name are conditional upon, amongst other things, Shareholder approval being obtained at the Extraordinary General Meeting. The LNL Arrangements and the Change of Name are inter-conditional. \n \n \n Under the AQSE Rules, a fundamental change of business requires the approval of Shareholders by way of an ordinary resolution; under the Articles, the Change of Name requires the approval of Shareholders by way of a special resolution. In addition, the Company is seeking approval to allot Ordinary Shares to settle certain outstanding debts, including as part of the SEIL Arrangements. \n \n \n Accordingly the Directors are seeking approval of a single special resolution to authorise the LNL Arrangements, the Change of Name and allotment of Ordinary Shares (together, the \"Settlement Resolution\").\n \n \n In addition, the Directors propose that the following resolutions are put to Shareholders at the EGM:\n \n \n \n To be approved as ordinary resolutions\n \n \n \n ·\n To re-elect Thomas Richardson as a director of the Company; and\n \n \n ·\n To re-elect Marco D'Attanasio as a director of the Company.\n \n \n \n To be approved as a special resolution:\n \n \n \n ·\n To disapply the provisions of Article 107 of the Articles so that the Company is required to hold its annual general meeting in respect of 2022 by no later than 28 February 2023.\n \n \n If the Sett...